Registration number: 03153346

Phillip Bates & Co Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 7

Phillip Bates & Co Limited

Company Information

Director

Mr P N Bates

Company secretary

Mrs S L Bates

Registered office

1 - 3 Chester Road Neston Cheshire England CH64 9PA

Accountants

Phillip Bates & Co Limited Chartered accountants1 - 3 Chester Road Neston Cheshire CH64 9PA

Phillip Bates & Co Limited

(Registration number: 03153346)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	150,000	150,000
Tangible assets	5	6,851	4,898
		156,851	154,898
Current assets
Stocks	6	69,711	72,283
Debtors	7	59,140	50,691
Cash at bank and in hand		67,564	41,755
		196,415	164,729
Creditors: Amounts falling due within one year	8	(79,132)	(74,415)
Net current assets		117,283	90,314
Total assets less current liabilities		274,134	245,212
Provisions for liabilities		(1,713)	-
Net assets		272,421	245,212
Capital and reserves
Called up share capital	9	100	100
Retained earnings		272,321	245,112
Shareholders' funds		272,421	245,212

For the financial year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 28 December 2025
 

......................................... Mr P N Bates Director

Phillip Bates & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
1 - 3 Chester Road
Neston
Cheshire
CH64 9PA
England

These financial statements were authorised for issue by the director on 28 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Phillip Bates & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Computers and equipment	25% Straight line basis
Office equipment fixtures and fittings	25% Reducing balance basis

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	Over 20 years Straight line basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Phillip Bates & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2024 - 8).

 

Phillip Bates & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 April 2024	500,000	500,000
At 31 March 2025	500,000	500,000
Amortisation
At 1 April 2024	350,000	350,000
At 31 March 2025	350,000	350,000
Carrying amount
At 31 March 2025	150,000	150,000
At 31 March 2024	150,000	150,000

5	Tangible assets

	Computers and equipment £	Office equipment, fixtures and fittings £	Total £
Cost or valuation
At 1 April 2024	18,950	32,330	51,280
Additions	3,077	1,028	4,105
At 31 March 2025	22,027	33,358	55,385
Depreciation
At 1 April 2024	16,359	30,023	46,382
Charge for the year	1,526	626	2,152
At 31 March 2025	17,885	30,649	48,534
Carrying amount
At 31 March 2025	4,142	2,709	6,851
At 31 March 2024	2,591	2,307	4,898

6

Stocks

	2025 £	2024 £
Work in progress	69,711	72,283

Phillip Bates & Co Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	31,106	22,450
Prepayments	19,522	19,006
Other debtors	8,512	9,235
	59,140	50,691

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Trade creditors	6,187	5,722
Taxation and social security	55,892	51,474
Accruals and deferred income	4,243	3,891
Other creditors	12,810	13,328
	79,132	74,415

9	Share capital

Allotted, called up and fully paid shares

	2025		2024
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100

10

Taxation

Tax charged/(credited) in the income statement

	2025  £	2024  £
Current taxation
UK corporation tax	28,241	22,684
Deferred taxation
Arising from origination and reversal of timing differences	1,713	-
Tax expense in the income statement	29,954	22,684